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Dilution profile // every instrument, one screen, from SEC filings

Pagaya Technologies Ltd. (PGY)

CIK 1883085 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3ASR on file 2025-12-05
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
NOT COMPUTEDunder 3 years of share history on file
= share count now vs 3 years ago
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Fewer than two cover-page share counts on file, so there is no history to chart.

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Reported exercise price: $0.01 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $775,000 as of Jun 30, 2026.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Exchangeable Senior Notes Due 2029$160.0M—$13.996.125%~11.4M sh

If every note above converted at its tagged price: ~11.4M new shares. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Jul 30, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Registrations and offerings

S-3ASRDec 5, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
F-3Nov 21, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
F-3Oct 4, 2023no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 1 registered.

REGISTEREDDec 5, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →
EFFECTIVEDec 6, 2024SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDNov 21, 2024F-3 registration — capacity to sell shares, not a sale yetF-3 →
EXECUTEDOct 28, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDOct 1, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDSep 16, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDMar 14, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDMar 13, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EFFECTIVEOct 16, 2023SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDOct 4, 2023F-3 registration — capacity to sell shares, not a sale yetF-3 →
UPDATEAug 3, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEAug 3, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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